Ksh 5,000,000 loan at Access Bank Kenya for 10 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 5,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 96,562. Total cost: Ksh 11,587,385 (Ksh 6,587,385 interest).
Monthly repayment
Ksh 96,562
At 19.98% · 120 payments
Total repayment
Ksh 11,587,385
2.32× the borrowed amount
Total interest
Ksh 6,587,385
Ksh 1,744,983 more than industry avg
Year-by-year amortisation
How each payment splits between interest and principal over time.
| End of year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| Year 1 | Ksh 175,210 | Ksh 983,529 | Ksh 4,824,790 |
| Year 2 | Ksh 388,817 | Ksh 1,928,660 | Ksh 4,611,183 |
| Year 3 | Ksh 649,236 | Ksh 2,826,979 | Ksh 4,350,764 |
| Year 4 | Ksh 966,727 | Ksh 3,668,227 | Ksh 4,033,273 |
| Year 5 | Ksh 1,353,796 | Ksh 4,439,897 | Ksh 3,646,204 |
| Year 6 | Ksh 1,825,691 | Ksh 5,126,740 | Ksh 3,174,309 |
| Year 7 | Ksh 2,401,003 | Ksh 5,710,166 | Ksh 2,598,997 |
| Year 8 | Ksh 3,102,396 | Ksh 6,167,512 | Ksh 1,897,604 |
| Year 9 | Ksh 3,957,499 | Ksh 6,471,147 | Ksh 1,042,501 |
| Year 10 | Ksh 5,000,000 | Ksh 6,587,385 | Ksh 0 |
Could you get this cheaper?
Currently the cheapest Kenyan lender on this CBK dataset is Citibank N.A. Kenya at 10.36%. The same Ksh 5,000,000 loan over 10 years would run about Ksh 67,076/month — saving Ksh 3,538,248 in interest. See the Citibank N.A. Kenya version →